Capital is scarce these days, and it’s the time to for fresh ideas. So we’re surprised to see yet another attempt at making a pro football league to compete with the NFL. The last time, of course, was the infamous XFL, which thought that eliminating the fair catch would prove a competitive advantage. It wasn’t. Arena Football, which was at least a different game went bust earlier this year, when investors backed out.
Yet here we go again with the UFL. Perhaps what’s most surprising are the investors:
CNBC: Led by former NFL executive and agent Michael Huyghue as commissioner and prominent sports marketer Frank Vuono as chief operating officer, the season has been financed through $30 million of capital provided by a group of investors including investment banker Bill Hambrecht, Google senior vice president Tim Armstrong and Paul Pelosi, the husband of the Speaker of the House, Nancy Pelosi.
Seriously? Do you think they see a legitimate business here, or is this more of a show investment?
And as one of our commenters wondered in our chat this morning, is there something about recessions that’s conducive to new leagues, given that the XFL launched in 2001? Theories?